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  • EcoProBM CEO Kim Jang-woo: Capital Raise Expected to Reach 900 Billion Won
    EcoProBM CEO Kim Jang-woo: Capital Raise Expected to Reach 900 Billion Won Kim Jang-woo, CEO of EcoProBM, announced on August 21 that the company expects to raise around 900 billion won through a capital increase, a reduction of approximately 300 billion won from the initial plan due to falling stock prices. During a shareholder meeting held at NH Investment & Securities in Yeouido, Seoul, Kim apologized for the decline in stock prices, acknowledging shareholders' concerns while expressing commitment to secure additional funding from external sources to continue planned growth investments.At the meeting, Kim stated, "The recent stock performance has not met expectations, and I apologize for not being able to reward our shareholders." This gathering was organized to address shareholder inquiries regarding the capital increase following a previous meeting on July 16. EcoProBM's board of directors had decided on June 30 to proceed with a capital increase of 1.2 trillion won through a rights offering and public offering of any unsubscribed shares, with approximately 9.9 million shares to be issued at a 20% discount for existing shareholders.However, the stock price has continued to decline since the announcement, leading to a forecast that the actual amount raised will fall short of the target. Kim explained, "At the time of the board's resolution, the average stock price was about 150,000 won, and assuming a 20% discount, the calculated amount was 1.2 trillion won. Now, with the stock price significantly lower, the actual amount raised may decrease by about 300 billion won from the original plan."Despite the reduced capital raise, the company plans to proceed with its growth investments. Kim emphasized, "A capital increase is not the only way for the company to secure funds. We will prepare to raise the shortfall through various other sources over sufficient time."Of the approximately 1.2 trillion won to be raised through the capital increase, EcoProBM plans to allocate 765 billion won for acquiring a stake in the BNSI nickel refinery in Indonesia, 150 billion won for investment in its Hungarian production subsidiary, 150 billion won for production facility adjustments, automation, and next-generation material development, and the remaining 135 billion won for operational funds, including raw material purchases.The BNSI nickel refinery in Indonesia aims to begin trial operations in the fourth quarter of this year, with commercial operations targeted for the second quarter of next year, boasting an annual production capacity of about 90,000 tons. The company anticipates achieving a double-digit operating profit margin once it reaches normal operations.Additional investments in the Hungarian factory will also continue. The current production line, focused on NCA, will be modified to also produce NCM, with plans for capacity expansion and automation investments. The Hungarian plant, which began operations in June, is set to launch its second line in September, with the company aiming for a return to profitability in the fourth quarter.Based on these growth investments, EcoProBM aims to increase its sales of cathode materials from approximately 70,000 tons last year to 230,000 tons by 2030. The company has also set a long-term goal of achieving 10 trillion won in revenue and over 1 trillion won in operating profit during the same period.Kim reiterated, "It is our fundamental duty to deliver results that significantly increase the stock price and provide substantial returns to our investors. We will diligently pursue growth investments to repay our shareholders' support."* This article has been translated by AI. 2026-08-21 16:04:00
  • Samsung Electronics Enhances Human-Centered Design Competitiveness, Wins Multiple Awards
    Samsung Electronics Enhances Human-Centered Design Competitiveness, Wins Multiple Awards Samsung Electronics is strengthening its design competitiveness by integrating accessibility, personalization, and AI beyond product aesthetics. The company is expanding its design approach to connect user experience with future technologies, as evidenced by its recent award wins.On August 21, Samsung announced that it received a total of 45 awards at the 'IDEA 2026,' including one Impact Award. Additionally, it secured 12 awards in the brand and communication category at the 'Red Dot Design Award 2026,' bringing the total to 57 awards across both competitions.At IDEA, the 'Accessibility Design for Home Appliances' received the newly established Impact Award. This design allows users to adjust the operation of home appliances based on visual, auditory, mobility, and cognitive characteristics. Features such as voice guidance, easy-use modes, and automatic door opening have been incorporated.Designs reflecting AI and sustainability were also among the award winners. The AI-based design solution 'AIDC' and a smartphone packaging concept utilizing recycled paper received bronze awards.At the Red Dot Awards, the Galaxy S26 Ultra's 'Privacy Display' won the highest honor, 'Best of the Best.' This feature allows for clear viewing from the front while obscuring screen content from the sides.This recognition signifies Samsung's shift in design from merely determining product form to implementing technology elements that enhance accessibility, AI, and personalized user experiences.Samsung plans to expand designs that reflect diverse user needs across its mobile, TV, and home appliance sectors while enhancing personalized experiences through AI and digital technologies.* This article has been translated by AI. 2026-08-21 16:00:20
  • Hugel Approves Shareholder Meeting Agenda for Stock Management and Governance
    Hugel Approves Shareholder Meeting Agenda for Stock Management and Governance Hugel has successfully passed agenda items related to stock management and governance at its extraordinary shareholders' meeting.On August 21, Hugel held the meeting at Elysian Gangchon in Chuncheon, Gangwon Province, where it approved three agenda items: a plan for stock retention and disposal, the appointment of an independent director to the audit committee, and the approval of stock options.The key focus of this meeting was the utilization of treasury stock in line with the revised Commercial Act. Hugel plans to use its treasury shares as a resource for employee performance compensation, including stock options and restricted stock units (RSUs), to secure key talent. The approval of the stock option agenda on the same day also established a foundation for the performance compensation system.Another notable agenda item was the appointment of directors to improve governance. The revised Commercial Act, effective in September, mandates that at least two independent directors serving on the audit committee be elected separately from other directors. Accordingly, Patrick Holt voluntarily stepped down from his existing director position to be re-elected as an independent director on the audit committee.CEO Jang Doo-hyun stated, "We will continue transparent and responsible management through rational utilization of treasury stock and governance improvements in line with the revised Commercial Act."Meanwhile, Hugel reported record earnings for the first half of the year, with sales of 254.5 billion won and an operating profit of 103.7 billion won, marking increases of 27.2% and 8.4%, respectively, compared to the same period last year. In the second quarter, sales rose by 25.1% to 137.9 billion won.The company is also actively pursuing global expansion. Hugel's cosmetic brand Wellage has officially entered U.S. Sephora stores. According to the company, as of August 20 (local time), Wellage's 'Real Hyaluronic' line has begun selling at the Olive Young K-Beauty Edit display in U.S. Sephora locations.Hugel plans to expand its presence with its flagship product line in the U.S. market.* This article has been translated by AI. 2026-08-21 16:00:00
  • Korean National Assembly Speaker Meets U.S. Ambassador, Discusses Strengthening Ties
    Korean National Assembly Speaker Meets U.S. Ambassador, Discusses Strengthening Ties On August 21, Cho Jung-sik, Speaker of the National Assembly, met with Michelle Steel, the U.S. Ambassador to South Korea, and stated, "If a U.S.-Korea Congressional Alliance is established, it will greatly benefit the relationship between our two countries." He emphasized the need for a similar exchange group in the U.S. Congress to enhance legislative cooperation.Ambassador Steel also highlighted the importance of the U.S.-Korea alliance, expressing her willingness to help, saying, "If I can contribute, I would like to actively assist."During their meeting at the National Assembly, Cho noted, "The National Assembly of the Republic of Korea has a U.S.-Korea Congressional Alliance with 161 members from both ruling and opposition parties, and I have served as co-chair. It would be beneficial for the U.S. Congress to have a similar group, but there is currently no suitable counterpart." He further mentioned Steel's previous involvement in U.S.-Korea legislative exchanges during her time as a member of the House of Representatives, adding, "If a U.S.-Korea Congressional Alliance is formed in the U.S. Congress, it will provide greater support for our bilateral relationship."In response, Steel remarked, "Reviving our relationship is extremely important," and emphasized that communication among lawmakers and at the congressional level is crucial. She acknowledged her experience working in the National Assembly, stating, "I understand how important it is to shape foreign policy and international relations," and stressed the significance of legislative diplomacy given the longstanding 73-year tradition of the U.S.-Korea alliance.Steel served as a U.S. House Representative from 2021 to 2025 and was appointed as U.S. Ambassador to South Korea on July 30 after being nominated by President Donald Trump in April and confirmed by the Senate in June. 2026-08-21 15:56:00
  • President Lee Appoints Park Jeong-seong as Head of Trade Negotiation Office
    President Lee Appoints Park Jeong-seong as Head of Trade Negotiation Office President Lee Jae-myung has appointed Park Jeong-seong, the Deputy Minister of Trade, as the new head of the Trade Negotiation Office at the Ministry of Trade, Industry and Energy. Choi Yong-cheol, the Deputy Chief of the Fire Agency, has been named the new Fire Chief.Blue House spokesperson Kang Yu-jeong announced in a written briefing on the afternoon of August 21 that President Lee made these appointments.Park, born in 1972, graduated from Kyungwon High School and Seoul National University with a degree in economics. He has nearly 30 years of experience in key positions related to trade and trade policy, including serving as the Director of the Trade and Investment Bureau and Deputy Minister of Trade.Kang described Park as someone who has overseen practical aspects of tariff and investment negotiations with the U.S., making him well-suited to maintain continuity in negotiations amid urgent trade issues with the U.S. She expressed confidence that Park would navigate complex trade matters with a sophisticated negotiation strategy, drawing on his experience as co-chair of the World Trade Organization (WTO) investment facilitation negotiations and as the lead representative for the U.S. tariff negotiation task force.The appointment of Park comes after the dismissal of former Trade Negotiation Office head Yeo Han-goo, indicating a move to ensure continuity in trade policy.Choi, the new Fire Chief, is a fire expert with 27 years of experience in both frontline rescue operations and key policy departments. He has previously served as the acting head of the Gyeonggi Province Fire and Disaster Headquarters and as the Deputy Chief of the Fire Agency.Kang praised Choi for his exceptional field command skills, strong work ethic, and extensive administrative experience, noting his high regard within the Fire Agency for his rational leadership that fosters communication and unity.She added that Choi is expected to establish a thorough disaster prevention and response system in line with the government's goal of prioritizing the safety and lives of citizens across all areas of governance.* This article has been translated by AI. 2026-08-21 15:52:00
  • BIGBANG returns as trio for first stadium tour in 9 years
    BIGBANG returns as trio for first stadium tour in 9 years SEOUL, August 21 (AJP) - Nine years after its last full tour, BIGBANG opens a 20th anniversary world tour Friday at Goyang Stadium northwest of Seoul, the first concert run in the group's history with three members on stage instead of five. The Goyang shows run three nights through Sunday and are sold out, including seats released later with restricted views. General ticketing drew roughly 210,000 people into the online queue at once, the heaviest demand for any single concert or festival sale in South Korea this year. Domestic tickets were sold exclusively through Coupang Play, which is also the presenting sponsor. BIGBANG debuted on Aug. 19, 2006, and spent the following decade as one of the defining acts of K-pop's second generation, with hits including "Lies," "Haru Haru" and "Bang Bang Bang." The lineup narrowed to three, G-Dragon, Taeyang and Daesung, after the departures of Seungri and T.O.P. The group's last full touring cycle ended with the Last Dance tour in 2017. Friday's show also carries the first live performance of "BiiiG," a digital single released on Aug. 19, the exact date of the group's 20th anniversary. It is BIGBANG's first release in four years and four months, since "Still Life" in April 2022. G-Dragon wrote and composed the track, a high-energy hip-hop song built on a heavy beat and a repeating hook. The set list mixes those older hits with solo segments for each member. All three took part in building the show, working on the song order, the stage design and the direction. The production leans heavily on overseas talent. A live band led by Wow Jones, who has worked with Usher, Post Malone and Rihanna, plays every song. Mike Carson, who directed the 2025 Super Bowl halftime show, and Es Devlin, who designed the stage for the 2012 London Olympics closing ceremony, both worked on the staging. The centerpiece is a 23-ton moving LED structure that uses multi-motor torque synchronization to shift position during the show. The tour title, "XX : COSMOS," gave the group a theme to build promotions around. BIGBANG filmed a collaboration with a Korean science YouTube channel on the physics of the actual big bang, and the Korea AeroSpace Administration named the three its first honorary ambassadors. A fan event on the Han River, a lighting show around Jamsil and a media exhibition in central Seoul filled out the run-up. G-Dragon announced the tour himself in April, from the stage at the Coachella Valley Music and Arts Festival, where BIGBANG performed a roughly hour-long set. After Goyang, the tour moves through 19 cities and 33 shows across North America, Europe, Oceania and Asia, including Auckland, Paris, London, Sydney, Tokyo and Jakarta. YG Entertainment said more dates and locations will be announced, so the final count may grow. Demand outside South Korea has followed a similar pattern, with the Auckland date selling out in 30 minutes and a second show added. "BiiiG" reached No. 1 on iTunes song charts in 24 regions and hit No. 2 on the worldwide song chart, according to YG Entertainment. At home it went to No. 1 on Melon's TOP100 one hour after release, on a chart that combines 24-hour listening data with the most recent hour, and set this year's record on the platform for the most listeners in a song's first hour. 2026-08-21 15:48:38
  • LIG D&A Denies Bribery Allegations Linked to Electronics Project
    LIG D&A Denies Bribery Allegations Linked to Electronics Project LIG Defense and Aerospace (LIG D&A) has firmly stated that it is "clearly unrelated" to the bribery allegations involving its employees in connection with a 2 trillion won electronic systems development project.On August 21, LIG D&A explained that "the public official involved did not participate as an evaluator in the assessment of this electronic systems project" and expressed regret over the indictment of its employees, emphasizing that the electronic systems project was selected through a fair evaluation process with a significant score difference.The company further asserted that claims suggesting the public official's involvement in related projects are unfounded and unrelated to the core technological elements of the electronic systems development. They described the project as a highly complex national task that significantly enhances the survival capabilities of the Republic of Korea Air Force, urging against undermining the dedication and efforts required to complete advanced military capabilities.LIG D&A also expressed hope that legal proceedings will clarify the facts and resolve the allegations, stating that they will actively cooperate if necessary. The company committed to strengthening its advanced defense R&D capabilities while working towards establishing a transparent and fair compliance system that meets public expectations.Meanwhile, the Suwon District Prosecutors' Office has recently indicted a level 5 public official from the Defense Acquisition Program Administration (DAPA) on charges of bribery under the Act on the Aggravated Punishment of Specific Crimes, along with an executive from LIG D&A on bribery charges.According to prosecutors, the DAPA official is accused of participating as an evaluator for six defense project proposals worth a total of 91.5 billion won from late 2021 to late last year, allegedly giving favorable scores to LIG D&A. It is believed that the official received 320 million won and a recommendation for a subcontractor service contract worth 2.2 billion won in return.Notably, among the six projects suspected of receiving preferential treatment, three are known to be core technologies for the 1.7 trillion won 'Korean Electronic Systems R&D Project' that LIG D&A secured in December of last year, placing them at the center of the controversy.* This article has been translated by AI. 2026-08-21 15:44:00
  • Ruling Party Submits Disciplinary Motion Against Lawmaker Over 5·18 Controversy
    Ruling Party Submits Disciplinary Motion Against Lawmaker Over 5·18 Controversy The Democratic Party submitted a disciplinary motion on August 21 against Lee Jin-sook, a lawmaker from the People Power Party, over her controversial remarks regarding the May 18 Gwangju Democratization Movement. The party criticized her comments as an insult to the citizens of Gwangju.Lee Joo-hee, the party's floor spokesperson, stated in the National Assembly that "today we submitted a binding disciplinary motion following last week's resolution calling for her expulsion." Ahn Do-geol, chair of the Gwangju chapter of the People Power Party, was also present at the announcement.Lee added, "The behavior exhibited by this lawmaker within the National Assembly is something that should never occur in a constitutional institution and a party representing the people's will." She emphasized that this matter cannot be overlooked and must be addressed with disciplinary action.Ahn also expressed that he views this as a serious provocation against the spirit of the Constitution and the May 18 movement, stating, "This is a secondary harm to the victims and their families of the May 18 incident. It is an act that insults the 3.2 million citizens of Gwangju, and it cannot be forgiven."Previously, on August 13, Lee hosted a public forum in the National Assembly titled "Revisiting the May 18 Democratization Movement," which sparked the controversy.In response, Democratic Party leader Kim Min-seok stated on X (formerly Twitter) that he would ensure Lee's expulsion and called for cooperation from National Assembly Speaker Chung Jin-suk regarding the disciplinary process. He also expressed hope that the People Power Party would begin addressing this issue and move towards genuinely aligning with the people by including the May 18 movement in the constitutional preamble.Additionally, some responsible members of the People Power Party have called for disciplinary action against Lee. Kim expressed his gratitude to them for their stance.* This article has been translated by AI. 2026-08-21 15:40:00
  • No Woo-rae Acquitted Again in Political Bribery Case
    No Woo-rae Acquitted Again in Political Bribery Case No Woo-rae, a former member of the Democratic Party, has been acquitted again in a political bribery case involving millions of won in illegal campaign funds. The Seoul Central District Court's Criminal Appeals Division 5-2, led by judges Kim Yong-jung, Kim Ji-sun, and So Byeong-jin, upheld the initial ruling of not guilty on August 21. The court determined that evidence collected by prosecutors during a search of the mobile phone of Jo, the spouse of businessman Park, was illegally obtained and therefore inadmissible. The case began when prosecutors investigated Lee Jeong-geun, a former deputy secretary-general of the Democratic Party, for alleged bribery. During this investigation, prosecutors seized Jo's mobile phone and uncovered leads related to No's alleged offenses, prompting an expanded inquiry. However, the first trial court ruled that the method of obtaining this evidence violated legal procedures and the principle of warrant-based searches, leading to its exclusion. The appeals court reaffirmed this judgment as valid. Nonetheless, the appeals court noted that the first trial court made a legal error in excluding some electronic information from Park's mobile phone. The court indicated that this information could be admissible as evidence, but ultimately concluded that even with this evidence, the prosecution's overall case was insufficient to establish guilt. The court also issued the same ruling for businessman Park, who was charged alongside No. He was found not guilty of bribery for allegedly providing money to No. In contrast, Lee Jeong-geun was found guilty of providing 330 million won in funds for election expenses and was sentenced to one year and five months in prison. Park, who had been out on bail, did not attend the sentencing and had his bail revoked. No was indicted in March 2023 for allegedly receiving a total of 60 million won from Park in five instances between February and December 2020, in exchange for facilitating permits for a logistics center, supplying to a power plant, and aiding a solar power project. Prosecutors argued that part of this money was used for campaign expenses during the National Assembly elections and the party's convention, seeking a four-year prison sentence, a fine of 200 million won, and a forfeiture of 50 million won in both trials. Following the trial, No issued a statement condemning the prosecution's investigation and indictment process. He stated, "It took three years and nine months to correct the wrongful prosecution and investigation by the political prosecutors under Yoon Seok-yeol. We must put an end to the wrongful investigative practices of political prosecutors who tried to frame me as a criminal by using information from a mobile phone without a warrant."* This article has been translated by AI. 2026-08-21 15:32:00
  • Gunpo Mayor Han Dae-hee Emphasizes Citizen Safety in Civil-Private Joint Training
    Gunpo Mayor Han Dae-hee Emphasizes Citizen Safety in Civil-Private Joint Training Gunpo Mayor Han Dae-hee led a joint civil-private training exercise for air raid preparedness on August 20, reaffirming that "protecting the lives and property of citizens is the top priority."During the exercise at E-Mart Sanbon, which was part of the 2026 Ulchi Training, Mayor Han conducted a demonstration of evacuation procedures for multi-use facilities in the event of an air raid.The training aimed to enhance the response capabilities of both citizens and officials in real air raid situations. It was organized as part of a nationwide civil defense drill to ensure that people can evacuate quickly and orderly from crowded public spaces.Mayor Han's direct involvement in the training drew attention as he oversaw the exercise on-site.At 2 p.m., an air raid siren sounded, prompting shoppers and staff at E-Mart Sanbon to stop their activities and follow the guidance of evacuation personnel to designated safe areas.The exercise simulated evacuation routes and emergency response procedures within the facility, allowing participants to experience a realistic scenario.Mayor Han also moved through the evacuation routes alongside citizens, observing the overall response system and evacuation process.The focus was on understanding how citizens would react in a real disaster and how relevant agencies and facility staff should respond.Participants expressed agreement on the necessity of air raid preparedness training. One citizen remarked, "I had always thought vaguely about where to evacuate when the air raid siren sounded, but experiencing it today helped me understand the evacuation process better. I hope there will be more of these drills, especially since I use these facilities with my children."Another participant noted, "In places where many people move at once, orderly evacuation is crucial. I believe this will be helpful in actual disaster situations."Mayor Han stated, "Through this training, we have assessed the emergency response system for multi-use facilities and strengthened the community safety net based on civil-private cooperation. I thank the citizens and E-Mart Sanbon staff for their active participation in the drill."Looking ahead, Mayor Han plans to continuously evaluate disaster response systems in multi-use facilities and enhance safety policies that citizens can feel. 2026-08-21 15:32:00